Varsity Brands Agrees to Pay $43.5 Million to Settle Antitrust Class Action Lawsuit

Varsity Brands has agreed to pay $43.5 million to resolve claims the cheerleading equipment and apparel company worked with a competitive cheer and dance governing body to create a monopoly in the cheer competition and apparel market.

The class action settlement resolves claims brought by plaintiff Fusion Elite All Stars, a California cheerleading gym, against Bain Capital-backed Varsity Brands and U.S. All Star Federation (USASF) in May 2020.

Fusion claimed Varsity controls around 90% of the competition market and 80% of the apparel market in the US for cheerleading, arguing it was able to do so by allegedly making exclusionary agreements with some of the largest cheer gyms.

Read the source article at topclassactions.com